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Euro Gets a Short Term Lift, Dollar's Set to Dip

Friday, 16 Dec 2011 | 8:04 AM ET

Euro shorts take cover and Indonesia gets a ratings boost - it's time for your FX Fix.

The euro rose in Asian trading, but traders said it reflected covering of short positions. [WSJ]

With risk appetite improving, commodity currencies like the Canadian, Australian, and New Zealand dollars rose. [FT]

Traders are unwinding bets on risk aversion, and the dollar could be poised to weaken. [dailyfx.com]

The Chinese yuan hit a record high against the dollar on suspicion that the central bank orchestrated intervention. [CNBC]

Fitch raised Indonesia's credit rating to investment grade, on par with India, for the first time since 1997, earlier than expected. Moody's and Standard & Poor's may follow. [Reuters]

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